'Significant progress' on bilateral pact

China and the United States have achieved significant progress on negotiations for a bilateral investment treaty, which will contribute to the establishment of global investment rules, senior advisers said on Friday.

"The BIT negotiations have made substantial progress. We have already agreed on the basic framework to talk about the BIT. The issues include pre-established national treatment and the 'negative list'. These issues will be at the core of the BIT," said Long Yongtu, secretary-general of the Boao Forum for Asia. Long was China's chief negotiator during talks for joining the World Trade Organization

"What's left is detailed negotiations on the content and the items on the negative list."